But philanthropy is not just for high net worth individuals. In fact, your client can establish an endowment fund at the Outer Banks Community Foundation with as little as $1,000 in year one.

And, contrary to stereotype, planned giving is not just for childless widow(er)s. Most of our legacy donors have children and are including both family members and charitable organizations in their estate plans. (Some do both at the same time, through giving tools like charitable remainder trusts.)

So how and when do you start a conversation with your clients about philanthropy? A good opportunity is when your client is writing or revising a will, making estate plans, selling real estate, selling a business, purchasing life insurance, or receiving a financial windfall (such as an inheritance).

Here are some ideas on how to start the conversation:

“Do you volunteer for any community groups?”

“I know you are very supportive of [your church, XYZ nonprofit]… Have you thought about continuing your support through your estate plan?”

“Are you making charitable gifts now that you would like to continue after your lifetime?”

“Is there a charitable organization that has made a difference in your life or that of a family member?”

“I can see that you don’t need any income from your IRA right now, yet you’re forced to take a distribution because of your age. Have you thought about donating directly to charity from your IRA, instead of through your checking account? Let’s crunch the numbers; this could make a difference on your tax return.”

Mission

The Outer Banks Community Foundation helps meet local needs across Dare County and the entire Outer Banks. We manage charitable funds for individuals and agencies, and we target grants and scholarships toward our community’s most pressing needs and promising opportunities.